Caixa clears seven Brazil project losses

On the recommendation of the Comptroller General of the Union (CGU), Caixa Economica Federal should determine who were responsible for losses estimated at US $798 million in the guarantee Fund for shipbuilding (FGCN), with the project of construction of pre-salt probes of Seven Brazil, for Petrobras.

The EPBR website had access to the CGU report and it indicated Malmanagement in the FGCN and a damage caused by shipyards as well.

All this because most of the projects of Sete Brasil was not able to finance and the guarantees given by the FGCN were implemented By the company’s creditors. This also occurred with the Enseada shipyards and Ecovix, who would build probes for seven Brazil and took assurances with the Fund for the construction of their industrial plants.

The debts assumed with 29 subsidiary companies of seven Brazil totaled US $1.25 billion, or 45% of the total. With the failure of the project, the FGCN lost part of the amount remaining the debt of US $798 million. 

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